- The Automotive Component Manufacturers' Association (ACMA) plans to build the country's largest ancillary hub in Gujarat, spread over 1100 acres, as automotive manufacturers are lining up to set up their bases in the industry-friendly Gujarat. The executive meeting will be held in June to discuss further plans.
- The Maharashtra government has decided to go easy on big car buyers. The state has decided to cap taxation at 20 per cent on corporate and imported car registrations as many new car registrations were being done in other states – meaning less revenue for Maharashtra.
- As the Indian rupee continues its slide against the dollar, vehicle manufacturers are mulling a price hike to compensate for increasing input costs and shrinking profit margins.
- European car makers are lobbying for massive import duty cuts for made-in-Europe cars under the free trade agreement. The Society of Indian Automobile Manufacturers (SIAM) is up in arms as it will give an unfair advantage to the Europeans which will destroy the Indian manufacturers. As they can import and sell cars really cheap in India, there will be no FDI inflow into the country, hurting its economy and growth.
- Porsche will launch the new 911 Carrera and the Boxster by the end of 2012 or early 2013 to cater to the rising Indian market demand. Porsche has more than doubled sales to over 300 units in 2011.
- After Bengaluru, the Chennai police has served a deadline to citizens to get rid of the window tint on their cars. The trying part is that they have given only a two day notice to start fining the offenders at Rs 100 for the first time and Rs 300 for subsequent offences.
- Jaguar - Land Rover have signed a JV agreement with China's Chery Automobile Company to assemble Jaguar and Land Rover cars, engines etc. in China. They will need some more time to get all approvals regarding the same, but since JLR are looking at a long term perspective, they would not mind the delays.
- Mini is revamping the basic Mini Cooper after the existing model has been around for about five years. The car will be a bit bigger than the outgoing Mini and will share its underpinnings with the next-gen BMW 1 series.
- About 30 per cent of auto dealers in Italy are on the verge of closing business in near future due to the plummeting auto sales in the country. The market has shrunk by around 20 percent in the last quarter alone. This does not bode well for the enthusiast, as everything from Fiat 500s to Ferrari 458 Italias call this country home.
- The Ferrari Enzo successor, dubbed the F70, will have a hybrid engine where a 12 cylinder petrol engine will be combined with two electric motors. With the pricing even higher than that of the Enzo, the most expensive Ferrari will compete with the likes of the upcoming Porsche 918.
- Legendary sports car builders and tuners Lola Cars is applying for bankruptcy protection after more than 50 years of existence. Despite having ongoing projects in almost every form of track racing held around the world, the revenues generated are not able to suffice the expenses incurred.
- Gazoo racing-tuned Toyota GT-86s and a Lexus LFA are participating in this year's Nurburgring 24 hours. With five cars entering the fray in various categories, Toyota is looking forward to winning.
The CarWale Daily Fuel is your quick daily dose of automotive news from India and around the world. If you want to know whatever's in the news but want it short and sweet, here's your solution.
